Factoring of accounts receivable is a flexible financing method that can help all types of businesses, including those just starting out. If you are considering Factoring your invoices, these are the main do’s and don’ts you should keep in mind.
Do Your Research
To take full advantage of Factoring you must make sure to work with a dependable company. Do your research and choose carefully: Read reviews, gather opinions from past and current customers, and review the terms of every company.
This is a previous post you may find useful as you do your research: Ask these 4 questions to find the right factoring company.
Do Consider All the Benefits
Once you have made your research and narrowed down your choices, your decision will come down to the company that offers the most attractive benefits.
For example, when you choose ACS Factors you enjoy advantages that include:
- Hours to approve
- No deposit or application fees
- Month-to-month deals
- No early termination fees
- No minimum funding
- No fee if you don’t factor
- Easy-to-increase funding limits
- Direct access to owner/CEO
- We take the credit risk if your customer cannot pay!
Don’t Forget to Ask Questions
Websites, brochures, and online reviews are great sources of information about Factoring. However, you shouldn’t forget to ask questions to representatives of each company you are considering.
The advantages of this strategy are twofold: first, during one-on-one talks you may discover information not included in advertising materials. Also, these conversations will give you a sense of the level of customer service that each company offers.
Don’t Rush the Process and Don’t Settle
Taking time to consider your decision is extremely important. Don’t rush the process just because a person recommended a company or because doing research is not your strong suit. If necessary, ask help from a friend whose judgment you trust. And, above all, don’t settle for inferior service or disadvantageous terms. You and your company deserve the best!
ACS Factors Helps You Turn Your Invoices Into Immediate Cash
At ACS Factors we help you get the capital you need to move your business forward. We are located in Upland, California, and have many clients in the distribution and logistics corridor which includes Ontario, Riverside, Fontana, Jurupa Valley, and Moreno Valley.
We take Factoring to the next level with fast approval times, no deposit or application fees, easy-to-increase funding limits, no minimum funding, and more!
Reach out today by email (firstname.lastname@example.org), telephone (909-949-5599), or through our social media accounts on Facebook, Twitter, and YouTube and start converting your accounts receivable into cash today!